Senate Sponsors: WELCH-HAWKINSON. House Sponsors: MAUTINO Short description: UPPER RIV VAL AUTH-EXMEPT BOND Synopsis of Bill as introduced: Amends the Upper Illinois River Valley Development Authority Act. Provides that beginning on the effective date of this amendatory Act, bonds issued by the Authority and the bonds' interest shall be exempt from State taxation, except for estate, transfer, and inheritance taxes. Provides that the amount of the interest net of the bond premium amortization shall be added and then subtracted from base income. Sunsets the exemption after all bonds have been paid. Effective immediately. Last action on Bill: TOTAL VETO STANDS Last action date: 99-11-18 Location: Senate Amendments to Bill: AMENDMENTS ADOPTED: HOUSE - 0 SENATE - 0 END OF INQUIRY Full Text Bill Status